Bangalore, July 15 (IANS): Leading utility vehicle maker Mahinda & Mahindra Ltd (M&M) Wednesday rolled out its mini-truck Maxximo in southern India, which is considered the country's largest market for light commercial vehicles (LCVs).

"Southern India is an important market for us as it comprises 46 percent of the country's mini-truck market and hence strategic for us. The all-India mini truck segment is about 11,000 units monthly. We expect it to grow by 25-30 percent annually to 14,000 units per month by 2011," Mahindra Vice-President Vivek Nayer told reporters here.

Powered with a two-cylinder engine, the 0.85-tonne capacity truck is the first product to roll out from the $7-billion Mahindra's Chakan plant set up in Pune at a cost of Rs.375 crore.

"Mini-trucks are increasingly being preferred by both standard operators and traders to ensure last-mile connectivity," Nayer said.

The company claimed that within months of its launch in the northern, western and eastern regions, Maxximo gained a market share of 23 percent.

Priced at Rs.2.87 lakh, the LCV comes with a zero maintenance offer for the first year or up to 40,000 km.